[JURIST] The US District Court for the Eastern District of Pennsylvania [official website] issued an indictment [PDF] Thursday against real estate lawyer Herbert Sudfeld for alleged insider trading. The charges include securities fraud, three counts of making a false statement to the Federal Bureau of Investigation [official website] and aiding …
[read more]

[JURIST] The US Supreme Court [official website] on Monday rejected [order list, PDF] an appeal by Rajat Gupta, the former Goldman Sachs [corporate website] director convicted of insider trading. This rejection leaves in place a lifetime ban on serving as an officer or director of a public company and stems …
[read more]

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Wednesday overturned [opinion, PDF] the insider trading convictions of two former hedge fund traders. Defendants Todd Newman and Anthony Chiasson were convicted in May 2013 on charges of "conspiracy to commit insider trading and insider trading in …
[read more]

[JURIST] A judge for the US District Court for the Southern District of New York [official website] on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the brother Raj Rajaratnam [JURIST news archive], the founder of the now defunct Galleon Group [JURIST news archive]. US District Judge Naomi Reice …
[read more]

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Tuesday affirmed [opinion, PDF] the insider trading conviction of former Goldman Sachs [corporate website] director Rajat Gupta. Judge Amalya Kearse rejected Gupta's claim that wiretap evidence should not have been admitted against him. Gupta was convicted of …
[read more]

[JURIST] The US Attorney for the Southern District of New York [official website] on Thursday filed a announced charges [indictment, PDF; press release] against SAC Capital Advisors [corporate website], the hedge fund run by billionaire Steven Cohen [Forbes profile]. Although Cohen was not charged in the indictment, the Securities and …
[read more]

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Monday affirmed [opinion, PDF] the 2011 convictions and sentences of three former Wall Street traders who were charged in a broad crackdown on insider trading which has led to charges against 81 people since October 2009. The …
[read more]

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Monday affirmed the conviction [opinion, PDF] of Galleon Group founder Raj Rajaratnam [JURIST news archive], rejecting his argument that wiretap evidence was used improperly to convict him. Rajaratnam was convicted in 2011 on 14 counts related to …
[read more]

[JURIST] The US District Court for the Southern District of New York [official website] granted an emergency order Friday freezing the assets of traders operating in Hong Kong and Singapore. The Securities and Exchange Commission (SEC) [official website; press release] is accusing the brokers of insider trading related to …
[read more]

[JURIST] Former Goldman Sachs [corporate website] director Rajat Gupta was convicted on Friday of three counts of securities fraud and one count of conspiracy to commit securities fraud. Gupta was also acquitted [AP report] on two other counts of securities fraud. Gupta was arrested [JURIST report] in October and charged …
[read more]

[JURIST] US officials on Wednesday announced charges [text] against seven individuals purportedly involved in a $62 million insider trading scheme. The individuals, who worked for five different investment institutions, are accused of earning illegal profits on the basis of insider information regarding publicly traded companies, including Dell Inc. and NVIDIA. …
[read more]

[JURIST] Former Galleon Group hedge fund executive Raj Rajaratnam [JURIST news archive] on Monday began serving his prison sentence at a Massachusetts military base. A judge in October sentenced [JURIST report] Rajaratnam to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 million. The …
[read more]

[JURIST] The US District Court for the Southern District of New York [official website] Tuesday ordered Galleon Group hedge fund founder Raj Rajaratnam [WSJ archive] to pay an unprecedented civil penalty for insider trading. In a thorough analysis of the appropriate amount of the fine, Judge Jed Rakoff handed down …
[read more]

[JURIST] Former Goldman Sachs [corporate website] Director Rajat Gupta was arrested [complaint, PDF] Wednesday on five counts of securities fraud and one count of conspiracy to commit securities fraud. The charges come in connection to his relationship with Raj Rajaratnam [JURIST news archive], co-founder of the Galleon Group, who was …
[read more]

[JURIST] A judge in the US District Court for the Southern District of New York [official website] on Thursday sentenced [press release, PDF] former Galleon Group hedge fund executive Raj Rajaratnam [JURIST news archive] to 11 years in prison, fined him $10 million and ordered he forfeit an additional $53.8 …
[read more]

[JURIST] Former hedge fund trader Danielle Chiesi was sentenced Wednesday to 30 months in prison after pleading guilty [JURIST report] in the US District Court for the Southern District of New York [official website] to three criminal counts of conspiracy to commit securities fraud. Chiesi was accused of communicating non-public …
[read more]